Terms of Business

Unless we notify you in writing to the contrary, we will be treating you as a “retail client”. This means that you are afforded the highest level of protection under the regulatory system and should have the right to take any complaint to the Financial Ombudsman Service.Money on Toast Limited, All Saints Church, West Pallant, Chichester, West Sussex, PO19 1TD Telephone No. 01243 219263, is a registered trading name of CPN Investment Management LLP, Financial Conduct Authority number 579506.

The Nature of Our Advice

There are two types of financial advice: independent advice and restricted advice.

Independent Financial Advice

Is able to consider and recommend all types of retail investment products to meet a client’s objectives and needs

Restricted Advice

Can only recommend certain products, product providers, or both.

Money on Toast provide Restricted Advice

We will advise and make a recommendation for you after we have assessed your needs, but we only offer advice on products from a panel that has been carefully selected by our management team.

Therefore, the advice being given to you by Money on Toast is NOT independent financial advice.

About the Restricted Advice we provide

The advice we give is not restricted to a particular market. The advice we give must still meet the Financial Conduct Authority’s suitability requirements. Where we fall into the restricted category is in the providers that we work with in regards to some products & services. Money on Toast are only authorised to advise on the products, services and providers which have been approved for distribution to our clients by our management team, the details of which are shown in the table below.

We will not make a recommendation for a product that closely matches a client’s needs if that product is not suitable. In the unlikely event that a client wishes to consider a product or service which is not included in the Money on Toast range set out below, we may be able to refer them to a third party who can provide further information and/or advice on the product or service. Please note that in such circumstances, Money on Toast will only be able to introduce to third parties and are not authorised to provide advice.

Advice from the range of products available to mortgage intermediaries

Any from the range of products made available to mortgage intermediaries

Provider Panel reviewed annually and correct as at 01/07/2016

Knowing our clients

Any advice or recommendation that we offer to you will be based on your stated objectives, circumstances and take into account any restrictions that you wish to place on the type of

products you would be willing to consider. This will be achieved by completion of a detailed Personal Fact Find, which will be undertaken at the earliest opportunity. The Fact Find will be updated each time we determine your objectives and/or your personal details have changed.

Conflicts of Interest Policy

We offer independent advice, but occasions may arise where we, or one of our clients, will have some form of interest in business that we are transacting for you. If this happens, or we become aware that our interests, or those of one of our other clients conflict with your interests, we will inform you in writing and obtain your consent before we carry out your instructions.

We assume that you would not place any restrictions on the type of designated investment we may recommend or the market on which the transaction is to be executed. Where this is not the case, you will be required to issue us with written instructions which clearly detail the restrictions on the type and market of designated investments.

Client Risk

You are advised that because investments can fall as well as rise, you may not get back the full amount invested. Past performance is not a guide to future performance.

How We Charge You For Our Services

You will be provided with a Schedule of fees and charges or a suitability report detailing all fees that you will be subject to prior to the opening of your Account. By accepting these Terms, you hereby authorise and instruct us to deduct our fees and charges from your Account in accordance with the Schedule of fees and charges.

We may charge fees for the provision of the Services under this Agreement from a product provider or other third party or associate. The fees that you will pay for the Services may be subject to VAT at the prevailing standard rate.

Our “Costs and Services” document will contain details of how much you will be charged and how payment is to be made.

Complaints

If you have a complaint, you should contact us using the following contact details:

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS). Further information regarding the FOS and how to complain will be made available to you with the written response from us.

We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Most types of investment business are covered for 100% of £50,000. Further information about compensation arrangements is available from the Financial Services Compensation Scheme.

You have a right to inspect copies of contract notes, vouchers and entries in our books or computerised records relating to your transactions.

Credit Checking

In connection with your application for an Account we may carry out a credit check with a licensed credit reference agency which will retain a record of that search. In the event of your default, relevant details may be recorded with that agency. This may be used by third parties in assessing applications for credit by you and members of your household and for occasional debt tracing and fraud prevention purposes.

Money Laundering Regulations

The above regulations require all financial institutions to verify the identity of their clients. We may use an electronic third party to verify your identity and address.

Additionally, we may require you to provide certain information as shown on your passport, driving licence or other acceptable form of identification and utility bills. We shall notify you at the time of the processing of your application of the information required. If you do not pass this part of the process, then an Account will not be opened up for you and any funds returned forthwith.

Data Protection

You authorise us to transfer any personal data to any third party provider in order to enable us to provide the services to you under these Terms. Third parties shall only process and hold personal data supplied to it by us to the extent and in such a manner as is necessary for the performance of its obligations under this Agreement and otherwise in accordance with our written instructions, and/or as required by applicable law.

The information we hold about you is confidential. We will only ever disclose it outside of our respective companies/groups of companies:

at your request or with your consent;

if the law requires or permits disclosure, or there is a duty to the public to reveal it;

if we are asked to do so by the FCA, HM Revenue & Customs, the London Stock Exchange or any other relevant regulatory authority or exchange in the UK or overseas;

to investigate or prevent fraud or other crimes;

to our agents and others in connection with running Accounts and other Services for you; or

to any individual or company to whom we propose to transfer our obligations and rights in line with section 22 of this agreement.

We may administer your Account and provide you with some Services via agencies in countries outside the European Economic Area (EEA), where data protection laws and standards differ from those in the UK. But even if we are processing your personal details outside the EEA:

there will always be a contract in place to ensure that such information is appropriately protected; and

we will continue to be strictly bound by the UK’s Data Protection Act 1998.

In accordance with the data protection legislation in the United Kingdom, you are entitled to request a copy of the information held by us about you. You should request such information through us. Upon payment of a prescribed fee (being £10 as at June 2014), we will provide a copy of your information to you. You should advise us if you believe that any information held about you is incorrect.

We would advise you that in the event of Money on Toast Ltd being sold or merged with another Financial Practice, a data transfer of the personal financial information we hold on you would take place. If you object to this, please write to us at the address shown on this Terms of Business letter.

For a period of at least six years if relevant to a Life Policy or Pension Contract

For a period of at least three years in any other case.

Variation and Amendment

We may amend these Terms to:

comply with legal, tax or regulatory requirements;

correct any errors, omissions, inaccuracies or ambiguities;

reflect a change in market conditions or the overall cost of providing the Service to our clients;

reflect a change in technology to cover a development or change in the Service or in the facilities we provide;

reflect a change in the service we provide;

reflect developments in market practices; or

on a transfer, to reflect the terms and conditions on which the new provider offers a similar service, or the computer systems the new provider will use to provide the Service.

Any amendment that reflects a change of applicable law or regulation may take effect immediately, if the law requires this, or on a date we specify. All other amendments only take effect on the date we specify, which will be at least 30 days after sending out the notice or publishing on our website.

If we make any major amendments to these Terms and you are not happy with those changes, we shall not impose any charges in relation to the closure of your Account, or transfer of the Assets or any cash to an alternative service provider, should you wish to transfer the Assets or cash, or close your Account.

Termination of Authority

You may terminate these Terms at any time in writing. Termination shall be deemed to take effect one week after receipt of the written notice by us.

We may terminate the agreement we have with you under these Terms at any time, and close any Accounts upon giving reasonable notice to you.

Once a termination notice has been received or deemed to be received by us, we will not accept any new orders from you, other than orders to close out any open transactions where required. You acknowledge and agree that any transactions which remain unsettled at the time of receipt of the termination notice by the relevant party must be settled in the normal course of business, and that the termination notice does not relieve you from any obligations to settle such transactions must be given in writing and clearly state when termination will take effect. Termination is without prejudice to any services already provided / transactions already initiated, which will be completed according to the Client Agreement unless otherwise agreed in writing. You will be liable to pay for any transactions made and / or services carried out prior to termination and any adviser charges or other fees which may be outstanding.

The Terms of Business will remain in force indefinitely unless terminated by either party as outlined above, or where it is superseded by the signing of another agreement.

Right to Withdraw

In the case of many retail investment products – such as life assurance contracts, personal pension schemes, investment bonds, and collective investment arrangements (e.g. unit trusts), a right to withdraw or cancel the contract within a specified period is normally provided. Details of such rights are ordinarily contained in the product literature (e.g. Key Features document, application form) and/or we may provide details of such rights in a separate communication. Some products allow you to waiver your cancellation rights and this will be clearly detailed in any documentation you are provided with.

In the case of any non-retail investment products e.g. an ISA wrapper, we will inform you in writing of any right to withdraw or cancel you may have, or if it is the case, we will inform you in writing that no such rights will apply.

Best Execution Policy

It is in the interests of our clients and Money on Toast that we obtain the best possible result when placing orders with other firms (e.g. third party brokers) for the execution of client orders or when transmitting orders on behalf of clients for particular investments (e.g. shares). We are required under the Rules of the Financial Conduct Authority to take all reasonable steps to provide ‘best execution’ when carrying out such transactions.

Where we place or transmit orders for such investments on behalf of our clients, we may utilise the services of a third party broker and base our decision to place or transmit an order on the price and cost of execution of the order. For orders in collective investment schemes (e.g. unit trust), however, the price of units or shares in the scheme is normally set by the scheme operator or manager and, as such, we have little influence over the price available.

Full details of our best execution arrangements are provided in our Best Execution Policy, a copy of which can be provided on request.

Some financial services such as occupational pension schemes and bank accounts are not regulated by the FCA. In addition, some businesses that may appear to be offering financial services, such as buy-to-let property clubs or compensation claim handlers, fall outside the FCA’s scope.

MONEY ON TOAST LTD DOES NOT HANDLE CLIENT MONEY – This means that all cheques for premiums or investments must be made payable to the life office, custodian or investment operator.

Mode of Communication

We will enter into communication with you through whatever means are convenient to you and us, including face-to-face, telephone, e-mail and other acceptable electronic communication methods. If you do not wish us or any company associated with us to contact you for marketing purposes by e-mail, telephone, post or SMS, please let us know

Clients Consent

This is our standard client agreement upon which we intend to rely. For your own benefit and protection, you should read the terms carefully before signing, as by signing you consent to the terms contained within. If there are any terms within this agreement that you do not understand, please ask for further information.

FCA Regulated

Money on Toast® is a registered trading name of CPN Investment Management LLP and is fully authorised and regulated by the Financial Conduct Authority, (no.) 579506, registered in England and Wales, no. 07972042, with a registered office at All Saints Church, West Pallant, Chichester, West Sussex, PO19 1TD.

Risk Warning

With investment comes risk. The value of your portfolio with Money on Toast can go down as well as up and you may get back less than you invest.

Full details of our Risk Policy can be found via the link below.

Restricted Advice

The advice offered by Money on Toast is restricted which will specifically look at Investment and Pension advice and will not look at all your other personal circumstances.

The advice you receive will also be what the FCA calls "restricted" in nature. We are not tied to any product providers but our team only advise on products that are carefully selected from an approved panel by our experts.